Affiliated Managers Group, Inc. (NYSE:AMG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Affiliated Managers’ shares have outperformed the industry, over the last three months. This was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. The company remains well positioned for growth based on successful partnerships, a diverse product mix and initiatives undertaken to strengthen its retail market operations. Further, inflows are expected to get impetus with broad distribution across channels and product category. However, pressure on revenue growth and higher debt levels remain major near-term concerns. Also, higher intangibles in the balance sheet will likely adversely impact profitability.”

A number of other equities research analysts have also recently commented on AMG. ValuEngine raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. BidaskClub raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reaffirmed a “buy” rating and set a $207.00 price objective on shares of Affiliated Managers Group in a research note on Sunday, July 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $202.25.

Shares of Affiliated Managers Group (AMG) traded up 0.57% during trading on Tuesday, reaching $195.22. 355,039 shares of the company’s stock traded hands. Affiliated Managers Group has a one year low of $130.48 and a one year high of $196.77. The company has a 50 day moving average price of $182.21 and a 200-day moving average price of $169.84. The stock has a market cap of $10.92 billion, a P/E ratio of 21.63 and a beta of 1.66.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $570.90 million for the quarter, compared to analysts’ expectations of $573.73 million. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $3.07 EPS. On average, equities research analysts expect that Affiliated Managers Group will post $14.52 EPS for the current fiscal year.

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Large investors have recently made changes to their positions in the company. Creative Planning lifted its position in shares of Affiliated Managers Group by 15.0% during the 2nd quarter. Creative Planning now owns 705 shares of the asset manager’s stock valued at $117,000 after buying an additional 92 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Affiliated Managers Group by 46.2% during the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock valued at $120,000 after buying an additional 228 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Affiliated Managers Group by 2.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock valued at $125,000 after buying an additional 16 shares in the last quarter. Financial Architects Inc lifted its position in shares of Affiliated Managers Group by 2.1% during the 2nd quarter. Financial Architects Inc now owns 833 shares of the asset manager’s stock valued at $138,000 after buying an additional 17 shares in the last quarter. Finally, FNY Partners Fund LP purchased a new position in shares of Affiliated Managers Group during the 1st quarter valued at approximately $163,000. Hedge funds and other institutional investors own 96.27% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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